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ASPERMONT, AU000000ASP3

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13.08.2021 - 10:25:30

Original-Research: Aspermont Limited : Buy

Original-Research: Aspermont Limited - von GBC AG

Einstufung von GBC AG zu Aspermont Limited

Unternehmen: Aspermont Limited

ISIN: AU000000ASP3

Anlass der Studie: Research Report (Initial Coverage)

Empfehlung: Buy

Kursziel: 0.09 AUD

Kursziel auf Sicht von: 31.12.2022

Letzte Ratingänderung:

Analyst: Julien Desrosiers; Felix Haugg

- A rising star in the digital media service industry

- Profitable & scalable XaaS model

- Uninterrupted growth for the past 5 years

Aspermont Limited is the global leader in business-to-business (B2B) media

for the resources sector. The company publishes subscription-based content

services for the mining, energy, agriculture, and technology sectors.

Aspermont provides services to customers all over the world. Aspermont

Limited is also a global leader in business-to-business marketing.

With new management taking the reins in 2016, the company started a

successful turnaround from a traditional media company into a digital B2B

XaaS business model. The company has completed this turnaround in FY2020,

when it posted its first EBITDA positive FY results. The company head-

quarters are located in Perth, Australia and they have offices in London/

UK, Belo Horizonte/Brazil and Manila/Philippines and Singapore. While the

company's clients are currently concentrated in North America and

Australia, accounting for 67% of their revenues, the infrastructure

supporting their service offer is scalable geographically, language and

sector wise. Furthermore, the current growth phase of the mining sector

foretells even more fruitful days ahead. The company provides high quality

subscription based content, B2B marketing leads and Wider client marketing

services, such as : advertising, events and content creative as their three

main revenue verticals.

Highlights:

- Digital Transformation Complete. The company posted 4 years of

continuous growth and is now debt free for the first time in the past 8

years.

- XaaS Business model B2B Solution. The company deployed their Horizon

platform at the beginning of their digital transformation, a tool

specifically designed for this business model, and is now posting best

in class KPI's.

- Scalable business. 7,4 million contacts and a new lead generation

program should increase gross margin and the company's bottom line. The

company should grow in new sectors and duplicate their current success

recipe.

- Profitable high margin results. With increased gross margins, we

project the company to post their first positive net profit FY results

in FY2021e

- Ready for new growth phase. With over 7,3M AUD in cash, the company

will be implementing their new growth strategy. Capital investment

should increase considerably and unlock new verticals in the next 24

months.

- Future revenues projection: On this basis, we expect a profitable

growth phase to begin in financial year 2021, which according to our

calculations should grow by 20% YoY for the next two years. With this

expected strong revenue momentum and developing economies of scale, the

gross margin should increase to 60%.

Based on our DCF model we have determine a price target of 0.09 AUD per

share.

Die vollständige Analyse können Sie hier downloaden:

http://www.more-ir.de/d/22774.pdf

Kontakt für Rückfragen

GBC AG

Halderstraße 27

86150 Augsburg

0821 / 241133 0

research@gbc-ag.de

+++++++++++++++

Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:

http://www.gbc-ag.de/de/Offenlegung

+++++++++++++++

Date and time of completion of this research: 13.08.2021 (09:00 am)

Date and time of first distribution: 13.08.2021 (10:20 am)

übermittelt durch die EQS Group AG.

Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw.

Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung

oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

°

@ dpa.de